August 10, 2020
A New York federal judge held Monday that a group of California investors who alleged that HSBC Hong Kong aided a $37 million Ponzi scheme lacked jurisdiction to sue the bank and tossed the suit without prejudice.
November 12, 2019
HSBC's Hong Kong affiliate has asked a New York federal judge to dismiss claims that it aided a $37 million Ponzi scheme, saying the action was merely a "forum-shopping retread" of a case investors already lost in California.
July 19, 2019
A New York federal judge on Friday said he would not reconsider his decision to order jurisdictional discovery for claims that HSBC's Hong Kong affiliate aided a Ponzi scheme that pulled $37 million from investors' pockets.
May 30, 2019
A New York federal judge freed HSBC Bank USA from another proposed class action accusing it of assisting in a multilevel marketing scheme that allegedly raised more than $37 million from investors, but he said he would need more information to determine whether the bank's Hong Kong affiliate should also be booted from the case.